# Tokenization

**• hToken**

**hToken** represents a **tokenized supply position**, functioning as a **yield-bearing ERC-20 token**. These tokens are minted when assets are deposited into the Pool and are burned when the underlying assets are redeemed.

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**• DebtToken**

**DebtTokens** are **non-transferrable interest-accruing tokenized debt positions**. These tokens represent the debt incurred by users and accumulate interest over time.